7
Theme 3 Lesson 7:
To Choose Is to Refuse
By participating in a readers' theater activity, the students learn about opportunity cost as a key factor in decision making. They use the concept of opportunity cost in a related simulation activity, deciding which wants to satisfy with limited income.
Concepts
- Cost
- Economic Wants
- Income
- Opportunity Cost
- Scarcity
- Wage
- Wants
Standards in Economics and Personal Finance
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